Food giant Nestle may resume buying palm oil from Indon giant Sinar Mas if an independent audit clears the firm of allegations that it is devastating rainforests. The world's largest food company dropped Sinar Mas as a supplier in March following protests by environmental group Greenpeace, after Unilever also severed ties this year. The ongoing audit is due for completion by end June and if cleared, it will lift the cloud over Sinar Mas’ plantation unit Golden Agri.
*Technical* Golden Agri is trading between the range 0.55 and 0.513 . Momentum may improve if price breakup above 0.55 (100-days EMA) . The MACD staged a crossover at the oversold level.
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